Grameen Foundation : Where we work : Sub-Saharan Africa : Ethiopia : ACSI
Amhara Credit and Saving Institution (ACSI)
| Status snapshot as of March 2008 | |
| Active clients | 834,503 |
| Loan portfolio (USD) | $117,655,824 |
| Portfolio At Risk >30 days* | 1.2% |
| * Value of all loans outstanding that have one or more installments past due more than 30 days | |
Amhara Credit and Savings Institution (ACSI) is the largest micro finance institution in Ethiopia and a clear market leader. The operation of ACSI is traced back to 1995 when it was initiated by the Organization for the Rehabilitation and Development in Amhara (ORDA), an indigenous NGO engaged in development activities in the Amhara region. ACSI undertook its pilot activities in 1996, and was licensed as a microfinance share company in April 1997. ACSI still works closely with the government and othr NGOs towards achieving food security and poverty alleviation in the region.
ACSI operates in the Amhara Region of Ethiopia with ten branches, 185 sub-branches and over 2000 employees. ACSI envisions a society where people are free from the grips of abject poverty, and empowered to determine their own future. ACSI’s primary mission is to improve the economic situation of low income, productive poor people in the Amhara region primarily through increased access to lending and saving services, while maintaining cost effectiveness in service and delivery.
Outreach:
ACSI focuses on financial services support for small farmers; the institution makes predominantly agricultural loans using the group lending methodology.
Grameen Foundation support:
The Grameen Foundation – ASCI collaboration will include services such as financing, development, business planning, strategic management and management information systems assistance.
ASCI is a clear market leader paving the way for GF to introduce innovative products in the Ethiopian market such as the Growth Guarantee and Social Performance tools leading the way for other institutions.
Awards:
GF awarded the ASCI with the GF Excellence in Microfinance Award in October 2007
In 2007, ASCI was ranked sixth in the world and 2nd in Africa by Forbes magazine in a survey listing the top 50 microfinance institutions in the world
Grameen Foundation : Where we work : Sub-Saharan Africa : Ethiopia : ACSI
Grameen Foundation uses microfinance and innovative technology to fight global poverty and bring opportunities to the world's poorest people. With tiny loans and financial services, we help the poor, mostly women, start businesses and escape poverty. Our global network of 55 microfinance institution (MFI) partners including our Growth Guarantee partners has touched more than 34 million people in 24 countries. In addition, we introduced and now sustain technology initiatives (Mifos and Village Phone) in Cameroon, Kenya, Rwanda, and Uganda, bringing our total country outreach to 28.
+1-202-628-3560 www.grameenfoundation.org
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